Overnight Asian markets continue Thursday’s New York drop
In Japan futures on the Standard & Poor's 500 Index dropped 1.6% as of 10:25 a.m. in Tokyo. Asian stocks continued their own move lower. In Tokyo the Nikkei 225 index was down 8.62% as of 10:20 p.m. New York time (or 11:20 a.m. in Tokyo.) The Shanghai Composite,...
The U.S. hospital system burns while Washington fiddles
The math is very clear and extremely disturbing. The numbers certainly argue that the coronavirus has the ability to crash the U.S. healthcare system--which would leave hospitals and other healthcare facilities conducting triage among patients with serious cases of...
Fed rides to the rescue–and stocks are still down almost 8% at 2:30 p.m. in New York
The Federal Reserve announced this morning that it would inject $1.5 trillion into short-term bank to bank lending markets today and tomorrow. The U.S. central bank will offer $500 billion in a three-month repo operation at 1:30 p.m. and repeat the exercise tomorrow,...
First market review of President Trump’s coronavirus speech? The S&P futures drop in Tokyo
The yen climbed and the Tokyo-traded S&P 500 futures fell 3% as of 10 p.m. New York time after President Donald Trump's speech on the coronavirus outbreak. Japanese stocks themselves lost 4%. Futures on the technology-heavy Nasdaq index dropped as much as 5%,...
Stocks fall again as WHO declares coronavirus pandemic, White House fails to deliver stimulus plan–no place to hide outside of Treasuries and the yen
As of 1:45 p.m. in New York the Standard & Poor's 500 is down 4.62% and the Dow Jones Industrial Average is off 5.13%. The NASDAQ Composite is lower by 4.40% and the Russell 2000 small cap index, with its heavy load of smaller U.S. oil producers, has lost 5.23%....
Stocks give back morning rally as Trump administration seems far from an actual coronavirus stimulus plan
Stocks broke higher this morning on President Donald Trump promise to announce "something dramatic" at a press conference today to combat the slowdown in the economy caused by the coronavirus outbreak. The Standard & Poor's 500 was up 3.33% to 2844.16 at 10:12...
Trump’s talk of doing something “dramatic” rallies overnight futures
President Donald Trump, speaking at a White House news conference today, Monday, March 9,, said that he plans to announce “very dramatic” actions to support the economy at a press conference on Tuesday following discussions with lawmakers. The actions seem likely to...
Will coronavirus crash the U.S. healthcare system?
I don't have any way to determine how representative this case is. But it sure argues that we need better testing. And that the biggest threat from the coronavirus is actually to the healthcare systems and healthcare workers of countries with significant exposure to...
A new Dip-O-Meter: Tracking more stocks and more buy-on-the-dip analysis
I'm getting this in on Sunday night before Monday shifts all the prices and analysis for my Dip-O-Meter again. For this iteration, I've expanded the number of stocks I'm tracking to see when/if this insane market might give us a buy on the dip opportunity to 25. The...
MGM looks like a good test case as Wall Street debates V- or U-shaped recovery from the coronavirus
Shares of MGM resorts International (MGM) fell 11.59% today, Thursday March 5, to close last $20.60. The shares closed at $31.21 at their 2020 high on January 17. The impetus for the latest big drop in the stock was the announcement of the first reported case of the...
Volatility itself has become a negative force in the stock market
Today, stocks are down again. Big time. As f 3:20 p.m. New York time the Standard & Poor's 500 was down 3.97% and the Dow Jones Industrial Average was lower by 4.05%. The NASDAQ Composite was off 3.62%. And the Russell 2000 small cap index had lost 3.95%. The...Jim’s Stock Alerts
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